2024-04-05T11:30:37-05:00 2023-06-30 251306171 URISH POPECK & CO LLC 2160 SANDY DRIVE STE C STATE COLLEGE PA 16803 990 2022-07-01 237007734 LOCK HAVEN UNIVERSITY FOUNDATION LOCK 5704842625 401 NORTH FAIRVIEW STREET 212 LOCK HAVEN PA 17745 JEFFREY PARKER TREASURER 5704842298 2024-04-02 1 JEFFREY PARKER XXX-XX-XXXX 0 KEVIN M MCGARRY CPA P00635928 8142349007 2024-04-02 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JEFFREY PARKER 300 FOUNDATION DRIVE STE 212 LOCK HAVEN PA 17745 11211039 0 X WWW.LHUFOUNDATION.ORG X 1967 PA TO GENERATE AND MANAGE RESOURCES FOR THE BENEFIT OF LOCK HAVEN UNIVERSITY AND ITS STUDENTS. 16 16 38 0 34605 0 1172482 2446855 526442 770086 1099336 863365 -266055 41179 2532205 4121485 1026552 1158613 0 0 315358 476813 0 0 162325 593193 1000709 1935103 2636135 597102 1485350 27652723 29009293 13661955 12649306 13990768 16359987 TO GENERATE AND MANAGE RESOURCES FOR THE BENEFIT OF LOCK HAVEN UNIVERSITY AND ITS STUDENTS. 0 0 704596 1046525 SUPPORT OF LOCK HAVEN UNIVERSITY'S ACADEMIC PROGRAMS BASED ON THE UNIVERSITY CASE FOR SUPPORT WHICH INCLUDES FACILITY UPGRADES, FACULTY ENHANCEMENTS, GLOBAL HONORS PROGRAMS, INTERNATIONAL EDUCATION, SCIENCE EDUCATION AND STUDENT ENHANCEMENTS AND INTERCOLLEGIATE ATHLETICS. 1158613 1158613 SUPPORT OF STUDENT SCHOLARSHIPS AND AWARDS BASED ON DONOR DESIGNATION AND CRITERIA. THE ORGANIZATION AWARDS NEARLY 400 ANNUAL SCHOLARSHIPS AND AWARDS TO BOTH FRESHMEN AND UPPERCLASSMEN BASED ON NEED AND MERIT. -9017 OWN AND OPERATE TWO STUDENT HOUSING PROJECTS (EVERGREEN COMMONS AND THE FOUNDATION VILLAGE AT CLEARFIELD) FOR THE BENEFIT OF LOCK HAVEN OR ITS STUDENTS. 1863209 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 38 0 1 1 0 0 0 0 0 0 0 0 0 X 16 16 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X CHIEF FINANCIAL OFFICER 5704842298 300 FOUNDATION DRIVE STE 212 LOCK HAVEN PA 17745 X JENNIFER RITER CHAIR 4.00 X X 0 0 0 ROBERT MAGUIRE VICE CHAIR 0.50 X X 0 0 0 RONALD BOWES MEMBER 0.50 X X 0 0 0 JAMES BERKEBILE SECRETARY 0.50 X X 0 0 0 EDWARD WRIGHT MEMBER 0.00 X 0 0 0 ROBERT LOMISON MEMBER 0.00 X 0 0 0 GAIL NESTLERODE MEMBER 0.00 X 0 0 0 MILTON STAN ALLEN FINANCE COMMITTEE CHAIR 0.50 X 0 0 0 POLLY SPANGLER MEMBER 0.00 X 0 0 0 FRANCIS CONDINO ADVANCEMENT COMMITTEE CHAI 0.50 X 0 0 0 JEFFREY PARKER TREASURER 1.00 X 0 0 0 JOSEPH KOEHLER MEMBER 0.00 X 0 0 0 DON CALCAGNI MEMBER 0.00 X 0 0 0 PEGGY MCFARLAND MEMBER 0.00 X 0 0 0 THANE TURNER MEMBER 0.00 X 0 0 0 ED SHIFFLETT MEMBER 0.00 X 0 0 0 0 0 0 0 0 0 0 0 1740 2445115 8752 2446855 CONTRACTED SERVICES 561000 424000 424000 SPECIAL EVENTS 611710 310203 310203 OTHER UNIVERSITY PROGRAMS 611710 35883 1278 34605 770086 526402 526402 2328013 2337030 -9017 -9017 -9017 5026805 4689842 336963 336963 336963 112878 1740 62682 50196 50196 4121485 1063427 34605 576598 1095144 1095144 63469 63469 314855 7797 307058 135869 135869 26089 785 25304 38174 38174 24736 24736 34375 34375 77830 15330 62500 8079 3590 4489 17898 2047 829 15022 12791 12791 1877 1442 435 14670 2919 11751 EQUIPMENT & SUPPLIES 207783 202348 1717 3718 HOUSING, MEALS, & TRANS 162457 132645 29812 BAD DEBT EXPENSE 114496 114496 ATHLETIC EVENTS & SALES 103291 103291 182252 120445 15023 46784 2636135 1863209 610601 162325 355128 99371 2668387 2854552 328134 866381 13871 22308 39077 37647 24259 75609 18763163 12788546 6465841 5974617 17398177 18718540 359849 360268 27652723 29009293 433797 426930 41907 40329 10841292 10121615 1575625 1301406 419592 419934 349742 339092 13661955 12649306 X -6627168 -6402188 20617936 22762175 13990768 16359987 27652723 29009293 X 1485350 950913 -56611 -10433 X 0 0 0 X 1117794 1166799 1100417 1178482 1178482 5741974 1117794 1166799 1100417 1178482 1178482 5741974 5741974 382770 410770 336508 365962 526402 2022412 7764386 0.73950 0.77390 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 270635 X X X 0 11939122 162358 1568744 610318 396707 12663200 14118478 194231 -1702809 447186 223593 11939122 10687972 690343 4131286 417337 973787 14118478 11208016 130000 105515 412123 343436 10687972 11031461 176549 678388 396715 281667 11208016 0 0 1077341 1077341 15178782 10594349 4584433 2429475 2194197 235278 77565 77565 5974617 SPLIT INTEREST AGREEMENTS 357704 DEFERRED DEBT & BOND PREMIUM COSTS -18612 339092 7405067 950913 -10433 940480 6464587 56611 -2399713 -2343102 4121485 5035848 2399713 2399713 2636135 0 2636135 PART III, LINE 4: THE FOUNDATION MAINTAINS A DONATED COLLECTION OF OIL PAINTINGS AND BLACK/WHITE ETCHINGS BY JOHN SLOAN. IN ADDITION, THE FOUNDATION DISPLAYS DONATED PORTRAITS IN THE DURRWACHTER ALUMNI CONFERENCE CENTER. IN ACCORDANCE WITH ITS MISSION TO GENERATE AND MANAGE RESOURCES FOR THE BENEFIT OF LOCK HAVEN UNIVERSITY AND ITS STUDENTS, THE COLLECTIONS ARE USED BY THE UNIVERSITY FOR EDUCATION, INCLUDING FOR LOAN OR EXCHANGE PROGRAMS, AND PRESERVES THE HISTORY OF THE FOUNDATION AND THE UNIVERSITY. PART V, LINE 4: THE INTENDED USE OF THE FOUNDATION'S ENDOWMENT FUNDS ARE DRIVEN BY THE DONOR'S INTENT. AT JUNE 30, 2022, $6,504,757 OF THE TOTAL $11,475,729 ENDOWMENT NET ASSETS ARE FOR SCHOLARSHIPS. THE REMAINING ENDOWMENT NET ASSETS ARE FOR PROGRESS OF DESIGNATED DEPARTMENTS OR PROJECTS AND CHARITABLE GIFTS PAYABLE IN FUTURE PERIODS. PART X, LINE 2: THE FOUNDATION'S OPEN AUDIT PERIODS ARE FOR FISCAL YEARS JUNE 30, 2019 THROUGH JUNE 30, 2021. ASC NO. 740-10, "INCOME TAXES" PRESCRIBES A COMPREHENSIVE MODEL FOR HOW AN ORGANIZATION SHOULD MEASURE, RECOGNIZE,PRESENT AND DISCLOSE UNCERTAIN TAX POSITIONS TAKEN ON ITS RETURN. THE FOUNDATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR TAX POSITIONS TAKEN AND, AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE INTEREST RATE SWAP -82. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -10,351. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -2,337,030. SPECIAL EVENTS -62,683. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 2,337,030. SPECIAL EVENTS 62,683. BASEBALL/WRESTLING GAME FEED & RAFF 18931 18931 4700 1980 476 ALUMNI GOLF TOURNAMENT 22981 22981 10440 5 72706 1740 70966 1649 3776 3436 2751 33474 114618 1740 112878 1649 8476 3436 4731 44390 62682 50196 1 LOCK HAVEN UNIVERSITY 401 N FAIRVIEW ST LOCK HAVEN PA 17745 232442881 955513 0 COST SCHOLARSHIPS & AID SUPPORT OF UNIVERSITY PROGRAMSSTUDENT AND FACULTY SCHOLARSHIPS AND AWARDSFUNDS TO ASSIST WITH CAPITAL IMPROVEMENTS STUDENT AND FACULTY SCHOLARSHIPS AND AWARDS 21 9196 COST PART I, LINE 2: THE FOUNDATION SCHOLARSHIP PROGRAM IS HELD DURING THE SPRING SEMESTER PROVIDING RECOGNITION AND FINANCIAL ASSISTANCE TO STUDENTS WHO ARE SELECTED USING A RANGE OF CRITERIA. RECIPIENTS ARE CHOSEN BY UNIVERSITY DEPARTMENT COMMITTEES WHICH ESTABLISH THEIR OWN PROCESSES, POLICIES AND PROCEDURES WHILE ADHERING TO ORIGINAL DONOR INTENT. A PENNSYLVANIA HIGHER EDUCATION FACILITIES AUTHORITY 232243852 709173EY5 2013-05-26 16057515 REFUNDING OF EVERGREEN COMMONS STUDENT HOUSING PROJECT 0 0 0 A 15994735 2013 0 0 1 1 A 0 0 1 1 0 0 0 0 A 0 0 1 0 0 0 0 0 0 A 0 DAVIS INSURANCE AGENCY INC ENTITY > 35% OWNERSHIP BY A FAMILY MEMBER OF DIRECTOR 2678 INSURANCE PREMIUMS 0 FORM 990, PART VI, SECTION A, LINE 3 THE FOUNDATION ENGAGES A MANAGEMENT COMPANY TO OPERATE THE EVERGREEN COMMONS STUDENT HOUSING PROJECT. FORM 990, PART VI, SECTION B, LINE 11B THE FIRST DRAFT OF THE FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER WITH THE PAID PREPARER. THE SECOND DRAFT IS REVIEWED BY THE FINANCE COMMITTEE, AS PRESENTED BY THE PAID PREPARER. THE THIRD DRAFT IS PROVIDED TO THE BOARD OF DIRECTORS, PREFERABLY ELECTRONICALLY, PRIOR TO THE NEXT REGULARLY SCHEDULED MEETING OF THE BOARD OF DIRECTORS. THE FINAL DRAFT OF THE FORM 990 IS APPROVED OR DENIED BY THE BOARD OF DIRECTORS. AFTER FINAL APPROVAL BY THE BOARD OF DIRECTORS, THE FINAL FORM 990 WILL BE FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS REQUIRES EACH DIRECTOR AND EMPLOYEE TO ANNUALLY (1) REVIEW THE CONFLICT OF INTEREST POLICY; (2) DISCLOSE ANY POSSIBLE PERSONAL FAMILIAL, OR BUSINESS RELATIONSHIPS THAT REASONABLY COULD GIVE RISE TO A CONFLICT INVOLVING THE FOUNDATION OR UNIVERSITY; AND (3) ACKNOWLEDGE BY HIS OR HER SIGNATURE THAT HE OR SHE WILL ACT IN ACCORDANCE WITH THE LETTER AND SPIRIT OF THIS POLICY. INFORMATION PROVIDED ON THE ANNUAL FORM SHALL BE HELD IN CONFIDENCE EXCEPT WHEN, AFTER CONSULTATION WITH THE MEMBER, THE FOUNDATION OR UNIVERSITY BEST INTERESTS WOULD BE SERVED BY DISCLOSURE. FORM 990, PART VI, SECTION B, LINE 15 A RECOMMENDATION FOR THE ANNUAL COMPENSATION IS DEVELOPED BY THE EXECUTIVE COMMITTEE, WHO USES SALARY SURVEYS AND MARKET COMPARISONS FOR COMPARABLE POSITIONS TO IDENTIFY REASONABLE COMPENSATION AND BENEFIT LEVELS. THIS RECOMMENDATION IS PRESENTED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE ON THEIR WEBSITE. WHEN A WRITTEN REQUEST IS RECEIVED FOR PUBLIC INSPECTION OF THE FINANCIAL STATEMENTS, THE EXECUTIVE DIRECTOR, A COMMITTEE OF THE BOARD OF DIRECTORS, AND/OR THE BOARD OF DIRECTORS WILL EVALUATE THE FACTS AND CIRCUMSTANCES SPECIFIC TO THE INDIVIDUAL REQUEST TO DETERMINE IF THE REQUEST WILL BE GRANTED IN ACCORDANCE WITH APPLICABLE LAW. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAPS -82. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -10,351.